Word: rated
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Dates: during 1980-1989
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...face it, with two major international tours under his belt, President Bush has quietly illustrated that, while he may be a first-rate friend, he is definitely a second-rate leader...
Evita shone gloriously in rhetoric as a visiting second-rate leader. She was feted by everyone, but a snubbing by the English and her own illness struck down the optimistic tenor of the "Rainbow Tour...
...first to feel the pinch. According to a study conducted for a group of junk-bond issuers by the economic consulting firm Data Resources, 1 out of every 8 will default if the economy falls into a soft landing. A major recession could produce a 1-in-5 default rate over five years. This year some $3 billion worth of junk bonds either have defaulted or were forced into a restructuring. The failure rate is well ahead of last year, when about $4 billion in junk bonds collapsed during the entire twelve months...
...provided a delicate touch in stifling inflation without making the kind of sudden moves that could trigger a recession. The U.S. may be in for only a brief and relatively innocuous reversal like the one in 1961 rather than the painful contraction of 1981-82, when the unemployment rate averaged 8.7%. The current slowdown "is not a good thing, but it's the cost of a good thing," says economist George Stigler, a Nobel laureate and professor at the University of Chicago. Americans can only hope that if they pay now, they can fly again later...
...exchange with Air Force Chief of Staff Larry Welch, House Armed Services Committee Chairman Les Aspin warned that Congress would never go along with the Air Force's plan to spend $8 billion annually -- more than twice the current SDI budget -- on the Stealth. At the more likely spending rate of $3 billion a year, said Aspin, the sticker price would soar to more than $1 billion for each plane...